February 2012 Update

Greater Vancouver home sellers were more active than buyers in January and overall home prices, according to the new MLS® Home Price Index, continued to experience more stability and less fluctuation compared to the beginning of 2011.

 

PROPERTY SALES - DOWN:

Residential property sales in Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012.  A decrease of 13.3% compared to the 1,819 sales in January 2011.

January sales in Greater Vancouver were the second lowest January total in the region since 2002, though only 146 sales below the 10-year average.

 

NEW LISTINGS - UP

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,756 in January. This represents a 19.9% increase compared to the 4,801 new listings reported in January 2011. 

Last month’s new listing count was the highest January total in Greater Vancouver since 1995.

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 12,544,  an

increase of 20.2% compared to  January 2011.

 

BENCHMARK PRICE - UP 

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $660,600, up 5.7 per cent compared to January 2011.

 

The benchmark price for detached properties increased 11.3 per cent from January 2011 to $1,034,700.  ($2,204,500 for Westside properties)

 

The benchmark price of an       apartment property increased 2.4 per cent from January

2011 to $371,500. 

($472,600 for Westside properties)

 

The benchmark price of a townhome unit declined 0.5 per cent between January 2011 and 2012 to $468,000.

($682,900 for Westside properties)

 

Spring is around the corner– don’t wait to list your house, if you want to avoid massive competition, as most sellers think of listing in the Spring.

 

Questions?  Just ask me...Ana (604) 328-6330

 


BENCHMARK PRICES FOR JANUARY 2012:

 

 

BURNABY

NEW WEST.

NORTH VAN.

RICHMOND

VAN. EAST

VAN. WEST

WEST VAN.

Detached

$905,000

$655,000

$957,000

$1,004,000

$828,000

$2,204,000

$1,831,000

Apartment

$340,000

          $270,000

$340,000

$354,000

$299,000

$472,000

       $607,000

Townhouse

$427,000

$384,000

$523,000

$502,000

$517,000

$683,000

     n/a


 

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.